Daily Commentary

Buyers win again!  That’s the case almost every day now so perhaps this shouldn’t be a surprise. Price moved – as logic suggested – up away from the 2,070 level toward 2,100 where we are currently. What levels are important now into 2,100? Let’s see! Logically speaking, 2,100 is our simple “Key Pivot” reference level…

The S&P 500 and Dow Jones face a critical “support test” level, and our trades will be based on whether or not buyers once again uphold the support level with an influx of money into the market here. The Weekly Chart gives us a crystal clear level from which to plan our next series of…

For the third time recently, buyers rushed in to defend and bounce the market up key inflection levels. Let’s take a look at the S&P 500 and Dow Jones levels buyers are defending and plan our trades. We’ll start with the S&P 500: Early in May and also early in June, buyers stepped in to…

Apple (AAPL) shares face a key support pivot level from which we can plan our trades off this level. Will support hold once again?  If so, play the bounce higher in the range. Or will “this time be different” as sellers overtake buyers and crash price under support? Here’s the level and our target planning…

Divergences yesterday gave way to a short-term reversal and sell-swing breakdown today. What levels are important now after the breakdown under 2,100? Let’s see! Be sure to reference Wednesday morning’s “Trading the Expected Rally (Reversal) off Support.” Follow-that up with this morning’s “More Divergences and Level Planning” update. With those firmly in mind, price broke…

Intraday divergences have been very helpful lately for calling intraday reversals in the stock market. Today’s session is no exception as a negative divergence yesterday suggested a bearish reversal today, which is how the market opened this morning. Let’s learn from these divergences and plot a “Price Level Planning Grid” over the current landscape. We’ll…

Yesterday’s session was a huge – expected – bullish surge (reversal) off support. Today’s session continued the bullish dominance early in the day, yet price balanced into a range mid-day. What levels are important now?  Let’s see! Be sure to reference yesterday morning’s “Trading the Expected Rally (Reversal) off Support.” In that reference post, we…

It’s neat – and efficient – when the market does exactly what it should do! Probabilities strongly favored a snap-rally (intraday reversal) springing off the current support-with-divergences price levels in the stock market and that’s precisely what we’re seeing this morning. Let’s see the bounce, how it happened, and where we’re aiming now: To set…

Yoga active wear company Lululemon (LULU) reported better than expected quarterly revenue this morning, and buyers bounced the stock higher in a breakout event. Let’s chart the breakout, update our charts, pinpoint key target levels, and plan a strategy from here. We’ll start with the Daily Chart breakout as a reference: Shares performed an upward-facing…

After reaching cruising altitude, airline stocks have begun their descent to lower levels. Let’s update our earlier post and chart the new breakdowns on selected airline stocks in new downtrends. We’ll start again with Southwest Airlines: Be sure to study my prior post from May 25th:  “High Flying Airline Stocks form Textbook Rounded Reversal.” We…